Home Appraisal LansingThe Michigan Board of Real Estate Appraisers licenses and regulates the services of real estate appraisers in Michigan. The work of approximately 4,500 limited real estate appraisers, state licensed appraisers, certified general appraisers and certified residential appraisers is governed by MBREA and the Bureau of Commercial Services in Michigan. Michigan law states that any person who issues an evaluation, opinion, conclusion, or analysis relating to the value of real property must be licensed as a limited appraiser, state licensed real estate appraiser, certified residential appraiser or certified general real estate appraiser. Home Appraisal Licensing Guidelines Limited Appraisers (formerly known as valuation specialists) must have 75 hours of appraisal education and can work in any non-federally related real estate transactions. Limited real estate appraisers may assist a state licensed, certified residential or certified general appraiser in the development of a federally related appraisal, but they may not sign the report. There is no home appraisal experience requirement. State Licensed Appraisers must have 90 hours of appraiser training and have accumulated 2,000 hours of real estate appraisal experience, of which 1500 hours must have been on residential appraisals. Certified General Appraisers must have studied commercial real estate courses and have 3,000 hours of work experience in real estate appraisal. There are continuing educational requirements as well. This real estate appraiser may evaluate any real estate property at any transaction value. Certified Residential Appraisers are specialists in home appraisal and must have 120 hours in real estate training/education and at least 2,500 hours of appraisal experience over a 24 month period. Lansing Home Appraisers |